Download Antitrust Law and Economics, Volume 21 by John B. Kirkwood, J. B. Kirkwood PDF

By John B. Kirkwood, J. B. Kirkwood

As readers have spotted, the final numerous volumes of analysis in legislation and Economics have consisted of specified factor volumes. this may proceed. This quantity is likely one of the top. Jack Kirkwood positioned this quantity including modest the help of me. i feel this can be a very good quantity and count on to satisfy the excessive average set the following in destiny volumes.

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72 In another case, the Tenth Circuit emphasized: To be judged anticompetitive, the [conduct] must actually or potentially harm consumers. 73 All four opinions indicate that consumer interests are paramount under the antitrust laws. The first decision suggests that the purpose of the antitrust laws is to benefit consumers. The next three opinions make clear that an antitrust violation cannot occur unless consumers have been harmed. These cases do not stand alone. 74 32 JOHN B. KIRKWOOD The judiciary’s frequent references to consumer welfare echo the Supreme Court’s use of the term in 1979.

Retain a persistent advantage over its less powerful rivals . . 112 Areeda, Hovenkamp and Solow also agree that bargaining leverage can cause persistent price differences between large buyers and their smaller competitors (p. 113 In appropriate circumstances, then, large buyers can extract unjustified concessions from oligopolistic sellers through bargaining power. How large does a buyer have 40 JOHN B. KIRKWOOD to be to accomplish this? A general answer may not be possible, given the number of relevant factors, but evidence from three sources – Scherer and Ross, Porter, and Peterman – suggests that monopsony power is not required.

Consumers may also benefit when the unjustified concessions never spread and buyers with bargaining power gain a persistent and unjustified advantage over their smaller rivals. Customers of the favored buyers benefit if the large buyers pass on their concessions. The buyers may do so to increase their market share and lower their costs, or because competition forces them to do so, but in either event, they provide lower prices to many consumers. When the Robinson-Patman Act impedes this process – when it makes it more difficult for big buyers to bargain vigorously with oligopolistic sellers and then pass on the results – a large number of consumers may pay higher prices.

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